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Nereo

Update on Nereo

Nereo is a responsible person that acts as a foreman in the municipality of Juigalpa. He is single and has 3 children who he supports economically. He has requested loans on two occasions to build his home. With the previous loan he carried out a home improvement project in his mother's home.

He is requesting his third credit to build an annex on his property to guarantee a safe and secure place for his children as they grow.
View original language description ↓
Nereo, es una persona responsable que se desempeña como maestro de obra en la municipalidad de Juigalpa, es soltero tiene 3 hijos a quienes ayuda económicamente, ha solicitado en dos ocasiones créditos para componer su vivienda, con el préstamo anterior realizo una mejora en casa de su mama. Ahora solicita este tercer financiamiento para la construcción de un anexo en su propiedad, para garantizarles un hogar seguro a sus hijos que cada día van creciendo, por lo que le es necesaria esta ampliación.

Previous Loan Details

Nereo is 38 years old. He is single and has worked for the city as a builder for 3 1/2 years. He is asking for his 2nd loan with the objective of building a room in his house and thus have better living conditions for his family. It is worth noting that with the previous loan he was able to buy s... More from Nereo's previous loan »

Additional Information

About AFODENIC

This loan is administered by AFODENIC, La Asociación para el Fomento al Desarrollo Nicaragua, a Kiva Field Partner based in Managua, Nicaragua. Founded in 1999, AFODENIC was created to promote the socio-economic and cultural development of sectors that are excluded from commercial banking. Integrating economic and human resources, AFODENIC offers affordable and adaptable financial services aimed at strengthening the family unit of their clients, who include students, producers, and micro- and small entrepreneurs from rural and urban areas. AFODENIC is a socially responsible institution engaged in society and making a positive impact on its professional partners and communities.

Supporting a borrower through AFODENIC contributes to the pursuit of innovation in mitigating poverty in Nicaragua. Visit AFODENIC’s partner page for more information.

Concurrent and Successive Loans

Our Field Partners often work with borrowers over a series of loans as the borrowers build credit, take out bigger loans, and expand their businesses. In order to make it easier for our Field Partners to post loans for borrowers who have been listed on Kiva before, we allow them to post successive and concurrent loans for their Kiva borrowers. This means that our Field Partners are able to post a borrower's second, third, etc., loan on Kiva without having to re-enter all of the borrower's information.

This borrower has been listed on Kiva before, so you'll see an updated loan description, as well as excerpts of the original descriptions from earlier loans. Most borrowers take out loans consecutively, meaning that they receive a second loan after having repaid the first. However, sometimes our Field Partners give out concurrent loans, allowing borrowers to take out one primary loan and a secondary "add-on" loan along with it. These "add-on" loans are typically smaller than the borrower's primary loan and serve a different purpose. Because Field Partners can now post loans as successive and concurrent loans, you will be able to track borrower progress over time and see the various ways a borrower is working with our Field Partners through funds from Kiva’s lenders.

About Housing Loans

Many poor families cannot afford housing that meets their needs. When you make a housing loan on Kiva, you give people access to flexible capital to obtain or improve their homes. Better housing means better health, sanitation, and even educational outcomes for children. A house can also be much more for entrepreneurs who run businesses out of their homes. In this way, housing and small business loans on Kiva share a common purpose: to alleviate poverty and enable families to enjoy more stable lives.

About Nicaragua

  • $3,636
    Average annual income
  • 126
    View loans »
    Nicaragua Loans Fundraising
  • $23,814,675
    Funds lent in using Kiva
  • 24.9
    Nicaragua Cordobas (NIO) = $1 USD
Expired
A loan of $900 helped Nereo to buy cement, sand, iron and blocks.
Repayment Term
26 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
May 23, 2013
Listed
Jul 1, 2013
Currency Exchange Loss:
Possible
Expired:
Jul 31, 2013